Anchor Health Properties Acquires Medical Office Building in Metro Atlanta’s Gwinnett County for $5.3M

LAWRENCEVILLE, GA. — Anchor Health Properties has acquired Walther Professional Center, an 18,471-square-foot medical office building in Lawrenceville, for $5.3 million. Two tenants, Northeast Atlanta Ear, Nose & Throat and Eastside Heart and Vascular, fully occupy the single-story building. The property is located at 766 Walther Road NW, a mile from Northside Hospital-Gwinnett and 30 miles northeast of downtown Atlanta. Charlottesville, Va.-based Anchor Health manages more than 5 million …

Microsoft Leases 523,000 SF in Atlanta’s West Midtown District, Expects to Create 1,500 Jobs

ATLANTA — Microsoft Corp. is investing $75 million for its new office space at Atlantic Station in West Midtown Atlanta. The software giant is leasing 523,000 square feet within Atlantic Yards, a two-building office project that Hines and Invesco Real Estate are developing and where Microsoft will be the sole office tenant. The company expects to open its new offices in summer 2021 and create 1,500 high-tech jobs. Microsoft plans for the new space to focus on artificial intelligence and cloud …

Tampa General, Kindred Healthcare Unveil Plans for New $35M Rehabilitation Hospital in Tampa

TAMPA, FLA. — Tampa General Hospital and Kindred Healthcare have formed a joint venture to develop and operate a $35 million, 59-bed hospital in Tampa. The building will be located on West Kennedy Boulevard between Oregon and Willow avenues, two miles west of downtown Tampa and one mile west of the University of Tampa. The joint venture plans to break ground this summer with an expected completion date in fall 2021. Kindred will operate the day-to-day operations of the hospital. The …

Brookwood Properties to Open 1,100-Unit Self-Storage Facility Near Baton Rouge in June

DENHAM SPRINGS, LA. — Brookwood Properties LLC will open a 1,100-unit self-storage facility the first week of June in Denham Springs. The four-story building will span 130,000 square feet and offer climate-controlled units. The Baton Rouge, La.-based developer broke ground on the project in May 2019. Baton Rouge-based Rosehill Construction LLC is the general contractor. Buffalo, N.Y.-based Life Storage will manage the property upon completion. The facility is located at 100 Rushing Road, 15 …

Berkadia Arranges $9.1M Construction Loan for Multifamily Development in Downtown Fort Lauderdale

FORT LAUDERDALE, FLA. — Berkadia has arranged a $9.1 million construction loan for The Forge, a 35-unit multifamily community within FATVillage in downtown Fort Lauderdale. The developer and borrower, Urban Street Development, expects to break ground this year and open the seven-story complex in late 2021. An undisclosed bank provided the loan at a 55 percent loan-to-value ratio. The Forge will offer one- and two-bedroom loft-style floor plans ranging from 781 to 1,350 square feet. Apartments …

New York Life Earns LEED Gold Certification for Prominence in Buckhead Office Tower in Atlanta

ATLANTA — New York Life Real Estate Investors has earned a Leadership in Energy and Environmental Design (LEED) Gold Certification for its Prominence in Buckhead office tower in Atlanta. The 433,237-square-foot property is situated at 3475 Piedmont Road in Atlanta’s Buckhead district, nine miles north of downtown Atlanta. In order to achieve the certification, the owner enhanced the building ventilation to improve indoor air quality, completed a lighting project in the parking garage that …

Miami-Dade County’s Industrial Market Sees Healthy Activity Amid COVID-19 Headwinds

The Miami-Dade industrial market saw a prolific year in 2019, followed by a healthy, yet slower first quarter in 2020. PortMiami’s record-shattering fiscal year 2019, with cargo operations posting 1.1 million twenty-foot equivalent units (TEUs) and cruise passengers totaling a world’s best 6.8 million passenger total, correlated with the robust warehouse and distribution demand the market experienced throughout 2019. There was a 9 percent uptick in South Florida industrial investment …

Cushman & Wakefield Arranges $58.5M Sale of Office Building in Charlotte

CHARLOTTE, N.C. — Cushman & Wakefield has arranged the $58.5 million sale of a 182,169-square-foot office building in Charlotte. Corning Optical Communications fully leases the building and has 14 years remaining on the lease. The building offers employee lounges, outdoor patio seating areas, a café with grab-and-go options and on-site walking trails. The property is situated near the intersection of Interstate 485 and N.C. Highway 16, 10 miles northwest of downtown Charlotte. Rob …

Despite 16.4 Percent Drop in April Retail Sales Amid Pandemic, NRF Says Industry Remains ‘Resilient’

WASHINGTON, D.C. — Retail sales plummeted 16.4 percent in April, according to the U.S. Census Bureau. However, the sharp drop “was not a surprise” to the National Retail Federation (NRF) due to the government-mandated shutdown of huge swaths of the American economy starting in mid-March. “The vast majority of retail stores have been closed, we are in the midst of historic unemployment and when it comes to personal finances, discretionary spending takes a back seat to essentials,” …

Mill Creek Starts Construction of 292-Unit Modera Creative Village Multifamily Property in Orlando

ORLANDO, FLA. — Mill Creek Residential, a Florida-based developer, has broken ground on Modera Creative Village, a 292-unit luxury multifamily property in the Orlando. Located at 505 Chatham Ave., the eight-story midrise building will feature studio, one-, two- and three-bedroom units as well as 10,000 feet of ground-floor retail space. Amenities include a fitness center with a yoga area and classes, a pool and an outdoor courtyard lounge. Modera Creative Village is part of a master …

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